Getting an SBA Loan for Automotive Oil Change and Lubrication Shops

With these commercial loans for automotive oil change and lubrication shops, the SBA guarantees the lender that the loan will be repaid. This automotive oil change and lubrication shops loan for $1,200,000 was given to a Missouri entrepreneur in 2003.

Getting a small business loan in Kansas City, Missouri was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank, operating out of Memphis, Tennessee. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE OIL CHANGE AND LUBRICATION SHOPS
KANSAS CITY, MO 64154

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811191 - Automotive Oil Change and Lubrication Shops

Loan Approval Date

9/22/2003

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help generate 9 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Kansas City MO, you ought to talk with a local Kansas City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Kansas City businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Regions Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - Friends and Family

SBA 7A Banks in Memphis, Tennessee

SBA Participating Banks in Tennessee